DanaHesson
DIS Veteran
- Joined
- Oct 17, 2004
just curious
smells like loan sharksDepends on your credit. 9-14%
There's no good way to finance. High interest rates or put one's home at risk are the main options.smells like loan sharks
It may not be the best option but I borrowed from my 401k. Took 3 years to pay it back but I didn't pay their insane interest rate.
smells like loan sharks
True but the same can be done financing for as little time as possible. Many, myself included, couldn’t pay cash without losing out on good contracts while saving. Just my .02Lightstream is often the best option if one is bent on doing so. Current rates are 5.99% to 14.24% depending on the size of the loan, length and credit. IMO anyone who can afford DVC and it's important to them can buy with cash within 2 years anyway.
Sure but IMO, it represents risk. There's always another contract. I used to give exceptions like if you had money coming in, price increases and the like but what I've come to realize is that things happen and if you increase your risk and things happen, the impact is multiplied. The other issue is the most people who intend to pay it off quickly, don't. I'm sure some will post they did but that's irrelevant since most don't statistically. But obviously the risk is variable depending on the personal situation. If one has no other debt and just chose to finance is far different that one who has multiple other debts and payments. Just yesterday I became aware of someone who came back from vacation and their first day back at work they were terminated effective immediately.True but the same can be done financing for as little time as possible. Many, myself included, couldn’t pay cash without losing out on good contracts while saving. Just my .02